I think that bitcoin's volatility (perceived and real) is somewhat of an obstacle.
If the price wasn't fluctuating so widely, possibly more people would be willing to hold it.
There's a trade-off here, though: many people holding bitcoin today, do it precisely because it is so volatile and they expect to make money from this.
Topic: What's stopping people from using bitcoin? - page 150. (Read 202161 times)
Possibly volatility. I still regret that humble bundle I bought long ago with bitcoin. It was 5USD at that time....
The basic knowledge on how bitcoin operates.
This. And also no real benefit of using bitcoin over a PayPal and Credit/Debit Cards. True, there are small fees when dealing with PP, and bank transfers but people are so brainwashed that they think these fees are fundamental and needed. Bitcoin for now is a hindrance, as you need not only bitcoin but, exchange account validated the same way you validate your bank account, or link between your bank and your exchange acc.How this is simple and more inviting to use over standard FIAT?
The basic knowledge on how bitcoin operates.
Today I was mentioning to my friends about Bitcoin! What he concern is that Bitcoin is digital, and how could it has value. And the price as well! If you buy now at $400, tomorrow it becomes $300 and no one will buy your coins!
I think that is one of the reason and the other reason could be lack of knowledge related to new technologies and also a fixed mindset towards a particular thing, mainly they don't want to innovate their thoughts towards something new and have faith that bitcoins would not survive too long due to its volatility.
I can't buy bitcoin with neteller mastercard as it is not 3D secure card.
Today I was mentioning to my friends about Bitcoin! What he concern is that Bitcoin is digital, and how could it has value. And the price as well! If you buy now at $400, tomorrow it becomes $300 and no one will buy your coins!
people stopped using bitcoins because they are afraid with the consequences whenever they are using bitcoins.
I guess a lot of people just dont like the fact that BTC is not backed up by anything.
For people who are not in touch with coins yet.. it may seem like something not understandable how the whole system works.
Mining, private addresses, public addresses, transaction fees, confirmations, blockchain..
Guess they dont want to trust anything they dont fully understand yet.
For people who are not in touch with coins yet.. it may seem like something not understandable how the whole system works.
Mining, private addresses, public addresses, transaction fees, confirmations, blockchain..
Guess they dont want to trust anything they dont fully understand yet.
people stop using bitcoins i think because if they are paying goods they can't reverse the payment when they get scammed ,unlike paypal if you get scammed you can file a dispute and retrieve your money , bitcoins has pros and cons i guess they stopped because of those cons .
This is one of the biggest problem of bitcoin. When paypal integrates bitcoin into its payment system, this problem can be solved.
I guess people stopped using bitcoins because they had bad experience about it , imagine if you invested in bitcoin and just get scammed ? why will you still continue using bitcoin . I guess those people who using bitcoin are those people who didn't know risk of using bitcoins.
I think the main reason for people not to use bitcoin is because they're not used to it. Also because I think it's not mainstream, once bitcoin takes off more commercially more people will start to use the bitcoin.
Yeah but i think it is also a good thing that not so many people knows about it. Once it go popular we dont know what might happen. It might start going down because of many people using it. It just unpredictable what might happen.
people stop using bitcoins i think because if they are paying goods they can't reverse the payment when they get scammed ,unlike paypal if you get scammed you can file a dispute and retrieve your money , bitcoins has pros and cons i guess they stopped because of those cons .
I think the main reason for people not to use bitcoin is because they're not used to it. Also because I think it's not mainstream, once bitcoin takes off more commercially more people will start to use the bitcoin.
I think it is the hard way to buy (for example credit/debit card is very hard to get it instant) same with bank....
also because can not be used everywhere in real life
also because can not be used everywhere in real life
Most people don't use bitcoin because they either are not aware of it or don't know how to use it.
It's possible that they don't have any knowledge about or just afraid to use it.
For some people it's hard to adapt to something else when they're used to something they've used all their lives.
It's possible that they don't have any knowledge about or just afraid to use it.
For some people it's hard to adapt to something else when they're used to something they've used all their lives.
many reason stoping people from bitcoin.
1. lack of knowledge
2. boring
3. give up because they lose so many
4. they have no time
5. etc
1. lack of knowledge
2. boring
3. give up because they lose so many
4. they have no time
5. etc
I think it is a wrong assumption that something is preventing people from using bitcoin.In my own experience,whoever learns about bitcoin,wants to earn it but due to its price volatility they dont want to spend it.I think the question of this thread title should be rephrased as "What is stopping people from spending bitcoin? "
because it is not exactly the simplest currency to buy daily needs with, and buying in general is not easy
How does one scan and a few keystrokes on your phone seem hard? What's hard is understanding the whole concept of bitcoin and how it would help people in their daily lives seeing that not all merchants are ready on accepting bitcoin yet.
Depends on where you are and the regulations present in your place. Here in our place, I could place an order at 8 am and get my coins at 9 am as soon as my payment is confirmed via a cash transfer as long as I'm a verified user. NY is the only place I could think of where you would really get a hard timr acquiring bitcoins.
because it is not exactly the simplest currency to buy daily needs with, and buying in general is not easy
How does one scan and a few keystrokes on your phone seem hard? What's hard is understanding the whole concept of bitcoin and how it would help people in their daily lives seeing that not all merchants are ready on accepting bitcoin yet.
Right now I can't see anyone going to the grocer and using bitcoin, because no one accepts it. I'm talking in current tense, not future. If markets accepted btc then sure this would be a soon reality and you are right, but what I am saying is what you said, not all merchants are ready.
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